Investing.com - Financial Markets Worldwide
Get 40% Off
Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

What to Expect From The XRP Price Heading Into The New Week

Published 03/18/2023, 07:50 AM
Updated 03/18/2023, 08:00 AM
What to Expect From The XRP Price Heading Into The New Week

  • XRP is trading hands at $0.3808 after a 2.69% increase in price.

  • Currently, XRP is trading above the support zone between $0.3520 and $0.3686.

  • If XRP’s price is unable to close today above the two EMA lines the token’s price will likely drop to $0.3686.

As the market is once again showing signs of recovery, most of the top 10 cryptocurrencies are trading in the green for today. The same can be said for the altcoin XRP. CoinMarketCap indicates that XRP is trading hands at $0.3808 after a 2.69% increase in price over the last day. The crypto is also in the green by more than 4% over the last seven days.

At the moment, XRP’s 24 hour trading volume is in the green zone and stands at $1,123,704,079 after a more than 50% increase since yesterday. With its market cap of $19,324,115,366, XRP is currently ranked as the 6th biggest crypto in terms of market capitalization. This places it right behind USD Coin (USDC) in the 5th position and in front of Cardano (ADA) which is ranked 7th on the list of the biggest cryptos.

Daily chart for XRP/USDT (Source: TradingView)

The daily chat for XRP/USDT shows that XRP’s price is trading above the support zone between $0.3520 and $0.3686 at press time. Additionally, XRP’s price is also trading above the 9-day and 20-day EMA lines. These lines have been strong resistance levels for XRP during this crypto winter.

The break above the 9-day and 20-day EMA lines may be short-lived and XRP’s price may retrace in the coming 24-48 hours. If XRP’s price is unable to close today above the two EMA lines then the remittance token’s price will likely recline to $0.3686.

3rd party Ad. Not an offer or recommendation by Investing.com. See disclosure here or remove ads .

On the other hand, closing today’s trading session above the two EMA lines will see XRP’s price make a move to the next resistance level at $0.4031.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

The post What to Expect From The XRP Price Heading Into The New Week appeared first on Coin Edition.

See original on CoinEdition

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.